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Managing the Dynamics of Growth

LSE and Hong Kong Exchanges and Clearing Ltd host a major forum 

HONG KONG: Hong Kong hosted a gathering of speakers today (Friday 9 September) at the 2005 Asia Forum to discuss Managing the Dynamics of Growth. This Asia Forum has been organised by the London School of Economics and Political Science (LSE) in partnership with Hong Kong Exchanges and Clearing Limited (HKEx). 

This event, held at the JW Marriott Hotel, is the second forum to be organised by LSE. In March last year a successful event was held in Bangkok, Thailand, focusing on The Future for the World Economy.

The Asia Forum honorary chair was LSE alumnus Dr Rosanna Wong, DBE, JP. Forum hosts were LSE alumnus and honorary fellow Charles Lee GBS, JP, chairman of HKEx, and Howard Davies, director of LSE.

Mr Stephen Ip, secretary for economic development and labour, SAR, Hong Kong, opened the Forum and delivered an introductory speech|. To see a picture or view the webcast of Mr Ip delivering the speech, click here|.

Mr Ip said: 'The tremendous economic growth of Asia, and of the Mainland in particular, has brought about abundant opportunities and an exciting future for us all. But these opportunities also bring challenges. We must be well equipped to take full advantage of these new opportunities, and to create a stable and favourable environment with a view to achieving sustainable growth in the long run. 

'To this end, the Second LSE Asia Forum has brought together distinguished academics and experts from around the world to examine the challenges of economic growth in Asia.'

David Eldon GBS CBE JP, chairman of the Hong Kong General Chamber of Commerce, delivered the keynote speech|. He is also chairman of the Pacific Basin Economic Council, senior adviser at PricewaterhouseCooper, former chairman of The Hongkong and Shanghai Banking Corporation Limited, and a director of HSBC Holdings plc.

David Eldon focused on three much lauded 'feel-good' scenarios about Asia - the creation of a united economic partnership between China and India, the arrival of the 'Asian Century', and that these changes herald the establishment of a European Union-style environment in Asia. While there is considerable discussion today about these scenarios, Mr Eldon cautioned that they may prove more fiction than fact, and instead highlights scenarios that may be more credible.

Over 300 people attended the event, including Donald Tsang, chief executive of Hong Kong, who attended the pre-lunch reception. Participants including representatives from HKEx; Tata Sons (India), ICICI Bank (India), the Reserve Bank of India, Deutsche Bank China, Beijing University and others. These distinguished speakers engaged with leading LSE faculty, including Professor Lord Desai, Professor Tim Besley and Professor Danny Quah to explore the future of Asia and its contribution to the world. 

Professor Henrietta Moore is LSE's deputy director and co-ordinator of the Forum. She said: 'The Asia Forum is a focal point of the School's wider Asia engagement. LSE offices have recently been created in New Delhi and Beijing, and the School is pursuing a range of partnerships with leading Asian universities and corporations as well as working with governments and governmental agencies. We view these partnerships as a vital part of our global network, which allows for worldwide knowledge-exchange, policy development and scientific cooperation.'

Charles Lee said: 'I am delighted that HKEx and LSE have been able to work together to provide an opportunity for leading thinkers to share their knowledge and experience.'

The forum was for invited guests and media. There was also a reception and dinner for LSE alumni on Thursday 8 September. 

LSE and HKEx are grateful for the generous support of sponsors EDS and Cathay Pacific in enabling this important event to take place.

Ends

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Notes 

LSE is the world's leading social science institution, specialising in economics, finance, law and social policy among other academic disciplines. With 7,500 full-time students, and around 70,000 registered alumni in more than 60 countries across the world, it seeks to develop intellectual and academic links internationally. The LSE Asia Forum is an annual event bringing together LSE's key partners in the region. LSE has a long-standing association with Asia and has historically attracted very talented student and staff from all major Asian countries, and been active in building partnerships with business and governments for many years. LSE has been at the forefront of the analysis of globalisation and is the alma mater of many public leaders in Asia.

HKEx is the publicly listed holding company of Hong Kong's stock and derivatives exchanges and their associated clearing houses. Its stock exchange is one of the world's ninth largest in terms of market capitalisation. HKEx provides a comprehensive range of products and services for issues and investors. Trading as well as clearing and settlement on HKEx's exchanges is fully electronic.

9 September 2005

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